Top 10 Accounting Software Every Accounting Assistant Should Know

Business people are no longer using accounting only for balancing accounts and tracking expenses. Due to the fast-growing technology, accounting assistants have to be conversant with various software applications to carry out their services. In fact, these tools not only ease the actual work but also assist in reducing the level of error and increasing speed and productivity. Accounting assistant or aspiring to be one, it is important to know what the best accounting software is.

In this article, you will be informed of the ten most common accounting software you should consider. When applied properly for practice, it gives the practice a good share of advantage in a practitioner’s career.

1. QuickBooks

QuickBooks is currently one of the most employed accounting solutions, particularly, for SMBs. It provides capabilities such as invoicing, payroll management, and tracking expenses.

Key Features:

  • User-friendly interface
  • Cloud-based access
  • Integration with various apps

Out of all the software tools, QuickBooks ought to be familiar to all accounting assistants, as it is one of the most used and reachable. He said it is suitable to handle routine accounting work such as recording transactions, and preparation of accounts and financial reports.

2. Xero

Xero is another accounting software that small businesses can make use of. Those aware of it describe it for its elegant layout and for its capability to track financial data in real-time. 

Key Features:

  • Real-time bank feeds
  • Inventory management
  • Multi-currency accounting

Xero is particularly well suited for businesses with international operations and is slowly but surely making its way onto the list of preferred tools among accountants.

3. Sage 50cloud

Sage 50 Cloud is the conferment of the trust of desktop-based software and the freedom of cloud-based one. It is ideal for small and medium-scale enterprises and has some hefty functionalities.

Key Features:

  • Strong reporting capabilities
  • Cash flow management
  • Payroll services

Sage 50cloud can be a helpful program to master because it is an efficient piece of software that more and more companies use for their accounting needs.

4. FreshBooks

FreshBooks is an online accounting that deals with invoicing and time tracking thereby suitable for self-employed persons.

Key Features:

  • Easy invoicing
  • Expense tracking
  • Project management tools

5. Wave Accounting

Wave is another free accounting software that will come as a shocker to many since it comes fully packed with every basic and relevant additional feature a small business could need. Freelancers and small startups are the ones that use it most often, although it is used also by vast online retail stores.

Key Features:

  • There are no charges for basic accounting services.
  • Double-entry accounting
  • Receipt scanning

Wave is quite suitable to be used by accounting assistants who will be working with small business owners with small budgets.

6. Zoho Books

Zoho Books has more interfaces with the Zoho family, as Zoho is a set of tools to manage an enterprise of various sizes. Most of the time it is admired for its strong automated features.

Key Features:

  • Workflow automation
  • Tax compliance
  • Multi-user collaboration

Zoho books are, however, suitable for businesses that are already using other Zoho products and require integration.

7. Tally ERP 9

Tally ERP 9 is one of the managing accountancy software widely used in ASIA and the Middle East region. It’s documented for its comprehensiveness of offered features and at the same time, for its simplicity.

Key Features:

  • GST compliance
  • Inventory management
  • Payroll management

Indeed, Tally is a must-have for accounting assistants serving organizations based in those areas where the software is popular. As well as providing a detailed range of accounting and financial tools.

8. MYOB

MYOB or ‘Mind Your Own Business’ is one of the most used software in the southern part of the world particularly in Australia and New Zealand. It offers a spectrum of accounting remedies with respect to commercial requirements.

Key Features:

  • Comprehensive payroll features
  • Tax management
  • Inventory control

That is why, the knowledge of MYOB can be beneficial if you intend to get a job in areas of its common usage.

9. NetSuite ERP

NetSuite is thus an ERP solution that provides accounting solutions for larger companies. This is a highly customizable and scalable solution, as well as very powerful.

Key Features:

  • Advanced financial management
  • Global business management
  • Revenue recognition

NetSuite is quite an effective tool, and if you are acquainted with it, then you will stand out in situations that call for rather rigorous handling of the financial side.

10. Microsoft Dynamics 365

Microsoft Dynamics 365 is the collection of enterprise resource planning and customer relationship management applications with various additional advanced features in the area of accounting. It is compatible with other Microsoft programs such as Excel and Outlook.

Key Features:

  • Advanced analytics
  • Project accounting
  • AI-driven insights

Conclusion

There is hardly a moment in fast-moving accounting when the appropriate software would not make all the difference. From basic day-to-day operations to dealing with large numbers, while managing accounts these ten top accounting software cannot be missed.

Being familiar with these tools, not only increases productivity but also increases the possibility of being promoted in your career. One can begin with one or two types of content and then proceed to learn the others as time goes on. Since business operates more of an online-based system, your awareness of these software programs will always be useful.

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